Five New Ways Shipping Businesses Will Use Technology in 2021

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Innovative technology is having a tremendous impact on the way the shipping and transportation industry is conducting business.  Digitalization and automation initiatives are being adopted by leading shipping companies to boost efficiencies and optimize operations. Technology will help companies stay competitive and flourish in challenging economic times.

Modern technologies offer unlimited potential for expansion and are a game-changer in the shipping industry. Few new technologies that will transform the shipping industry include; 

 Cloud technology

  • Cloud technology is revolutionizing the way shipping companies operate.
  •  Ease of data access in multiple fields such as transit insurance 
  • the availability of  accurate and prompt information regardless of time or location,  
  • Shipping companies no longer need to send emails back and forth, requesting or forwarding information.
  • The reduction of data silos. 
  • improving communication between staff at land and sea, 
  • easy execution of payroll or performance reviews of seamen, 
  • The digital data regarding commercial insurance policies is always up-to-date and available where it is required.
  • Simplifies processes such as purchasing and stock planning, 
  • Helps shipping companies comply with regulations easily and mitigates the risks of fines.

 Blockchain technology

  • The shipping industry is harnessing this technology in various ways to transform how trade and operations are performed.
  • This technology ensures data authenticity and leading shipping companies have launched blockchain-based trade platforms.

Augmented reality (AR)

  • This technology is integrated by shipping companies as enables them to connect  to employees in different global locations,  
  • Increases the efficiency of operations.
  • Specially developed AR devices enhance the multiple possibilities in the shipping industry  such as carrying out ship inspections holding  virtual meetings, giving guidance for repairs virtually 

Autonomous ships

  • Automation technology will transform how the shipping industry operates
  • in the future.
  • Data for commercial insurance  automatically will be  made available to everybody else regardless of location
  • Will improve  communication and collaboration 
  • Will reduce time spent on administrative tasks.

Smart speakers

  • Smart speakers such as Amazon Echo, Google Home, and Sonos will also have an impact on the day-to-day business operations of shipping companies. 
  • will  help in accessing information promptly and  easily
  • Will help in editing or adding data by merely using voice commands.

 Get shipping insurance online 

  • Technology can transform operations in the future including fleet management, getting cargo insurance  done, and driving  down costs 
  • buy transit insurance or cargo insurance policy online especially if you are about to have a long-distance relocation that requires several days.
  • Transit insurance policy offers coverage to all types of cargo against multiple risks associated with a collision, or fire or lightning, etc. To make more informed decisions when ships go out on a voyage it is important to get in transit insurance done.  Marine insurance helps to cover all risks of loss or damage in transit
  • You can compare different plans and  rates for shipping  insurance policies  online  and choose the best commercial insurance policy that suits your specific needs  

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 There is a gigantic technology revolution taking place in the shipping industry. Whilst some technologies may take a long time to be in the mainstream it is evident that technology will assist shipping companies to run operations efficiently and stay competitive in the future.

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